Saudi’s Open Banking Party Just Got a Fresh Invite!

Hey folks, get this—SAMA just handed Malaa Company for Information Technology a shiny license for payment account information services. That’s one of the cool open-banking goodies. Consequently, the kingdom now boasts 33 licensed companies offering payment services.

This move shows SAMA actively backs the payments scene. Moreover, it boosts transaction efficiency and sparks innovative financial tools that push financial inclusion forward across Saudi Arabia.

Meanwhile, SAMA keeps reminding everyone: stick only to authorized institutions. Therefore, always check their website for the full list of licensed and permitted financial players before you dive in.

Hive Hearts Saudi SMEs: Beehive's Buzzing Takeover Sparks Fintech Revolution!

From Partnerships to Power Moves

Beehive Group Holdings Limited has completed its acquisition of a majority stake in Themar Al Aamal Commercial Company LLC, the holding company of the SAMA-regulated debt crowdfunding platform (Themar Al Aamal for Crowdfunding Company CJSC) in the Kingdom of Saudi Arabia. Moreover, this bold step makes Beehive the first digital SME financing platform regulated across three GCC markets: the UAE, Oman, and Saudi Arabia.  

Fueling Dreams Across the Desert

The transaction closes alongside a significant milestone: Beehive has now financed more than 3,000 SMEs across the GCC since its founding in 2014. Additionally, Beehive has operated in Saudi Arabia since 2020 through strategic banking partnerships, and the Themar acquisition converts that presence into a fully regulated platform.  

Peter Tavener and Yousef H. Al Dabbagh both highlight how this union boosts capital access, supports Saudi Vision 2030, and scales transparent financing for thriving entrepreneurs. Exciting times ahead as Beehive eyes new funding facilities in the Kingdom!